8:00 am, Yike Daily Briefing | Shoppers queued for 14 hours to grab new products, and Shanghai Disney Resort halted offline sales; The basic pension for retirees was raised by 2%; Meituan refuted the rumor that "300,000 undergraduates are working as food delivery riders".
Top 3 Big News
New products were resold at a premium after scalpers queued for 14 hours. Shanghai Disneyland halts offline sales
On July 8, Shanghai Disneyland launched a new summer collection called "Summer Ocean Party". The products sold out instantly as soon as they went on sale. Some scalpers claimed to have queued for 14 hours at Shanghai Disneyland for an in - person purchase. A single new product originally priced at over 100 yuan was resold by scalpers at nearly 500 yuan.
On July 10, Shanghai Disneyland announced on its official app that starting from Friday, July 11, 2025, the "2025 Duffy and Friends Summer Ocean Party Collection" will no longer be sold through the in - park purchase quota lottery for selected merchandise in Shanghai Disneyland or at the resort hotel retail stores. The remaining inventory of this summer collection will be transferred to the official Tmall flagship store of Shanghai Disneyland for online purchase by visitors. Other themed product collections can still be purchased through the resort stores or the in - park purchase quota lottery for selected merchandise. (Yicai Global)
Basic Pension for Retirees to Be Increased by 2%
Recently, the Ministry of Human Resources and Social Security and the Ministry of Finance issued the "Notice on Adjusting the Basic Pension for Retirees in 2025". The "Notice" clarifies that starting from January 1, 2025, the basic pension level will be raised for retirees who have completed the retirement procedures as required and are receiving basic pensions on a monthly basis by the end of 2024. The overall adjustment level is 2% of the average monthly basic pension of retirees in 2024. (Beijing Youth Daily)
Meituan Debunks Rumor of "300,000 Undergraduates Delivering Food"
On July 10th, Meituan posted an article on its WeChat official account stating that in response to the spread of false information by many self - media outlets, such as "Meituan in Guangzhou is fully staffed for the first time in history, with an undergraduate rate approaching 30%" and "70,000 postgraduates and 300,000 undergraduates are delivering food for Meituan", the following clarification is made: Riders need to submit relevant certificates to the China Higher Education Student Information and Career Center / the Overseas Study Service Center of the Ministry of Education / the official websites of overseas universities for verification of their educational backgrounds. Any aggregate data on riders' educational backgrounds has no factual basis and is false information that is randomly inferred and spread for the sake of attracting traffic. (Jiemian News)
Big Companies / Major Events
CNBC financial commentator Jim Cramer: Hold NVIDIA, and we'll see it reach a $5 trillion market cap
CNBC financial commentator Jim Cramer recently shared his views on the significance of NVIDIA, one of his long - favored stocks, and advised investors to hold NVIDIA, saying, "We'll see it reach a $5 trillion market cap." He pointed out that neither Microsoft nor Apple can claim that they are currently creating a new industrial revolution, but NVIDIA can. He added that, to be fair, they did create the last industrial revolution, the rise of personal computers, although that was a long time ago.
Previously, on the evening of July 9th Beijing time, NVIDIA's stock price hit a new record high again, with its total market capitalization exceeding $4 trillion, making it the world's first company to reach this milestone. NVIDIA's stock price has risen by about 22% this year, and this upward trend has increased its valuation by about $700 billion. The company's stock price rose by more than 170% in 2024, and the increase in 2023 was about 240%. (JRJ.com, Jiemian News)
Harbin Engineering University Plans to Purchase 9,955 Air Conditioners
According to the China Government Procurement Network, on the evening of July 8th, the website released the "Public Bidding Announcement for the Air Conditioner Procurement Project of Student Dormitories at Harbin Engineering University".
The "Announcement" shows that it is planned to purchase 9,955 air conditioners. The delivery, installation, and commissioning of all equipment will be completed within 25 days after the contract is signed. The Yantai Campus will also be covered (Package 4). A site visit to the dormitory buildings for bidders will be organized on July 16th. (Jiupai News)
The three major U.S. stock indexes closed higher collectively, while large technology stocks showed mixed performance
36Kr learned that at the close on July 10, the three major U.S. stock indexes rose collectively. The Nasdaq rose 0.09%, the S&P 500 index rose 0.27%, and the Dow Jones Industrial Average rose 0.43%. Large technology stocks showed mixed performance. Tesla rose more than 4%, while Nvidia, Apple, Google, and Arm rose slightly. Netflix fell more than 2%, and Meta, Microsoft, and Amazon fell slightly. Popular Chinese concept stocks also showed mixed performance. NIO rose more than 6%, Alibaba rose more than 2%, and iQiyi, Bilibili, Weibo, and Li Auto rose slightly. NetEase fell more than 2%, JD.com, Tencent Music, and XPeng Motors fell more than 1%, and Baidu and Pinduoduo fell slightly.
Over 120 million yuan worth of equity in the parent company of idol group SNH48 has been frozen
The National Enterprise Credit Information Publicity System website shows that recently, Shanghai Siba Culture Media Group Co., Ltd., the parent company of idol group SNH48, has added four pieces of equity freezing information. A total of over 45.8 million yuan worth of equity held by Wang Jing and Shanghai Sishang Asset Management Partnership (Limited Partnership) in the company has been frozen. Meanwhile, a total of over 82.22 million yuan worth of equity held by Shanghai Siba Culture Media Group Co., Ltd. in Shanghai Siba Film Co., Ltd. and Shanghai Siba Performing Arts Management Co., Ltd. has been frozen. (Red Star Capital Bureau)
Chinese Football League: Beijing Institute of Technology Football Club Fined for Attempting to Give Gifts to Referees
On July 9th, the Chinese Professional Football League Federation issued a penalty decision regarding the violations and disciplinary issues of the Beijing Institute of Technology Football Club. On June 15th, the Beijing Institute of Technology Football Club attempted to give gifts to the referees, disrupting the game order and undermining the atmosphere of the football industry. As a result, it was publicly criticized and fined 100,000 yuan. (Jiemian News)
Wahaha Responds to the Lawsuit over Maggots Found at the Bottle Mouth of Wahaha Nutri-Express
Recently, a netizen posted a video claiming that they bought Wahaha Nutri-Express offline. "After opening the bottle and taking a sip, they found maggots. When they opened another bottle at the store, there were also maggots." The relevant news has sparked heated discussions. On July 8, a relevant person from Wahaha told a reporter from Southern Metropolis Daily that "it is impossible for live creatures to appear in the product after high-temperature sterilization in the production process. The technical staff initially determined that there were problems with the storage environment and conditions of the merchant. Insects could crawl in through the threaded bottle cap. Currently, they are still waiting for the subsequent test report from the regulatory authorities." (Southern Metropolis Daily)
Goodbaby: Controlling shareholder plans change of control, stock trading suspended
36Kr learned that Goodbaby announced that the company's controlling shareholder, Ningbo Hanyi Venture Capital Partnership (Limited Partnership), is planning a major matter that may lead to a change in the company's control. The company's stock trading will be suspended starting from the opening of the market on the morning of July 11, 2025 (Friday), and the suspension is expected to last no more than two trading days.
Zhiyuan Robotics Responds to Rumors of Planned Hong Kong IPO: Not True
On July 10th, there were reports that Zhiyuan Robotics planned to list on the Hong Kong stock market and was advancing the IPO process there. In response, Zhiyuan Robotics stated that the reports were untrue and that it had no clear plan to list in Hong Kong for now. On the evening of July 8th, Zhiyuan Robotics announced the acquisition of the controlling stake in Shangwei New Materials, a company listed on the STAR Market. (STAR Market Daily)
China-Malaysia Visa Waiver Agreement to Take Effect Soon
The Agreement between the Government of the People's Republic of China and the Government of Malaysia on Mutual Visa Exemption for Holders of Service Passports for Public Affairs and Ordinary Passports will come into force on July 17, 2025. According to the agreement, holders of valid Chinese service passports for public affairs, ordinary passports and Malaysian ordinary passports, for the purposes of leisure tourism, visiting relatives and friends, business activities, exchange visits, private affairs, medical treatment, and international transportation (crew members), when entering, exiting or transiting through the other contracting party, staying for no more than 30 days, and the cumulative stay within every 180 days not exceeding 90 days, may be exempted from visa application. (CCTV News)
NASA Plans to Lay Off Over 2,000 Senior-Level Employees
It is reported that the National Aeronautics and Space Administration (NASA) plans to lay off at least 2,145 senior-level employees. NASA has offered these employees options such as early retirement and buyouts. Under the leadership of the Trump administration, NASA has faced staff and budget cuts in recent months, which will lead to the cancellation of dozens of scientific projects. (CCTV World News)
Cindy Rose, a senior Microsoft leader, appointed as CEO of WPP
WPP, one of the world's largest advertising and communications groups, announced on July 10 local time that it has appointed Cindy Rose as the company's Chief Executive Officer (CEO), effective September 1, 2025. Cindy will succeed Mark Read, who will step down from the position of CEO on the same day. The two will work together to support the transition until the end of this year. Cindy Rose has held senior leadership positions at Microsoft for the past nine years. (Jiemian News)
Xiaomi Cars have exceeded 300,000 units in deliveries 15 months after their launch
36Kr learned that according to Xiaomi Cars' official Weibo account, Xiaomi Cars have exceeded 300,000 units in deliveries 15 months after their launch.
Beijing to Build Around 2 Vocational Undergraduate Universities and Around 4 New Vocational Colleges
Recently, four departments including the Beijing Municipal Education Commission issued the Three - year Action Plan for Accelerating the Construction of a Beijing Vocational Education System Featuring Integration of General and Vocational Education and Industry - Education Collaboration (2025 - 2027), clearly stating that by 2027, the school system structure of vocational education will be more coordinated. Around 2 vocational undergraduate universities and around 4 new vocational colleges will be built. A new batch of national and provincial high - level schools and professional groups will be established. A number of municipal industry - education consortia and industry - education collaboration communities will be built with high quality. A vocational university will be built overseas, and the running levels of technical schools will be optimized and upgraded. By 2035, a modern vocational education system of higher quality, higher level and greater influence will be fully established, which will become an important support for the high - quality development of the capital's economy and society, and its overall level will enter the world's first - class ranks of vocational education. (Jiemian News)
Official: The claim that "all 'personal accounts' in medical insurance will be cancelled" is an old rumor resurfaced
Recently, a self - media article titled "New adjustments to medical insurance starting from July: All 'personal accounts' will be cancelled. Where will the balance in the cards go?" has attracted a lot of attention. The article claimed that "it was learned from insiders of the medical insurance bureau that the reform of the national medical insurance personal accounts has entered a critical stage." Subsequently, many self - media also published similar content.
In response, the China Internet Joint Rumor - refuting Platform verified with relevant departments and learned that the content in relevant articles, such as "all 'personal accounts' will be cancelled" and "personal accounts will be completely cancelled nationwide, all medical insurance payments will go into the overall fund, and a national unified medical insurance points system will be established", is purely a rumor. (Jiemian News)
Xinya Electronics: Company directors Chen Huahui, Yang Wenhua, Chen Jingmiao, and the board secretary HUANG JUAN have reduced their holdings of the company's stocks
36Kr learned that Xinya Electronics announced that the cumulative deviation of the closing price increases of the company's stocks for three consecutive trading days on July 8th, July 9th, and July 10th, 2025, exceeded 20%, which falls under the category of abnormal fluctuations in stock trading. During this period of abnormal stock fluctuations, company directors Chen Huahui, Yang Wenhua, Chen Jingmiao, and the board secretary HUANG JUAN have reduced their holdings of the company's stocks. This reduction behavior is consistent with the previously disclosed reduction plan, and there are no situations of illegal reduction of holdings.
Large banks in Guangdong have started investigating their cooperation with loan intermediaries
According to financial industry sources, against the backdrop of cracking down on "financial dark and gray industries", large banks in the Guangdong region have launched investigations into multiple loan intermediaries to check their cooperation status and have required branches to report relevant cooperation information. However, some industry insiders said that the recent investigations by large banks into their cooperation with loan intermediaries are normal risk - control measures. Relevant persons said that under the guidance of regulators, in the past few years, the financial industry in Guangdong has continuously strengthened compliance construction, strictly reviewed business marketing and approval processes, continuously rectified various "dark and gray industry" chaos, and intensified the crackdown on "dark and gray industries". (21st Century Business Herald)
CAS Institute Achieves Methanol-to-Sucrose Synthesis for the First Time
According to a report by IT Home citing "Voice of CAS", the Tianjin Institute of Industrial Biotechnology of the Chinese Academy of Sciences (CAS) has achieved the synthesis of sucrose from methanol for the first time by constructing an in vitro biotransformation system, breaking through the limitation of relying on natural cultivation of sugarcane and sugar beet to obtain white sugar.
Previously, the Dalian Institute of Chemical Physics of the Chinese Academy of Sciences had successfully synthesized methanol from carbon dioxide through chemical methods. If carbon dioxide is further fixed or low-carbon molecules such as methanol are obtained from industrial waste and then biotransformed into sugar molecules, it will provide a brand - new sugar - making mode that does not rely on land cultivation. (IT Home)
The Cutting - Edge of AI
Elon Musk Unveils Grok 4, Claiming It Reaches Doctoral Level in Handling Academic Issues
During a live - streaming event on July 10th, Elon Musk announced the launch of Grok 4, claiming it to be the world's most powerful AI model. Its performance in handling academic issues has reached the doctoral level.
It is reported that this is a significant upgrade from its predecessor, Grok 3, directly skipping version 3.5. According to Musk, this model is smarter than human postgraduate students in almost all academic fields. (Sina Tech)
Dubai to Launch Restaurant Operated by AI Chefs
The "WOOHOO" restaurant, which claims to offer a "future dining experience," is scheduled to open in downtown Dubai in September, just a stone's throw away from the world's tallest building, the Burj Khalifa. Currently, the food at WOOHOO is still prepared by humans, but all other aspects, from menu design and atmosphere creation to the service process, will be handled by a large language model for cooking named Chef Aiman. (Sina Finance)
Reports: OpenAI's "Open-Weight Model" to Launch as Soon as Next Week
According to The Verge, people familiar with the matter revealed that OpenAI is preparing to launch an "open-weight model," which could be available as soon as next week. OpenAI's models usually have "closed-source weights," meaning their training parameters are not made public. The people familiar with the matter said that the model is "similar to o3 mini" and has the well - received inference capabilities of OpenAI's latest models. In recent months, OpenAI has demonstrated this model to developers and researchers and widely solicited feedback from the AI community. (Cailian Press)
Investment and Financing
"Luyuyuan Technology" Completes Series A Financing of 29 Million Yuan
36Kr learned that "Luyuyuan Technology" has completed a Series A financing of 29 million yuan, with the investor being Chaoxin Capital. The injection of this capital will provide strong impetus for Luyuyuan Technology's development in the destination charging field and accelerate the construction and expansion of its charging network.
"Kuawei Intelligence" Officially Announces Hundreds of Millions of Yuan in Series A1 & A2 Rounds of Financing
36Kr learned that Kuawei (Shenzhen) Intelligent Digital Technology Co., Ltd. recently announced hundreds of millions of yuan in Series A1 & A2 rounds of financing. The investment institutions include the leading investor Chengdu Science and Technology Innovation Investment, Hongtai Fund, as well as Tianying Capital, Sichuan Academician Fund, Nanshan Strategic Emerging Investment, Yicun Songling, Tanyuan Venture Capital and other institutions. Existing shareholder Lenovo Capital and others continue to increase their investment. Professor Jia Kui, the founder of Kuawei Intelligence, said that Kuawei Intelligence will further increase its investment in technological R & D and product innovation.
Financial Reports of Large Companies
North Navigation: Net profit is expected to reach 105 million to 120 million yuan in the first half of 2025, turning from loss to profit year-on-year
36Kr learned that North Navigation announced that it expects the net profit attributable to the owners of the parent company in the first half of 2025 to be in the range of 105 million to 120 million yuan. Compared with the net profit attributable to the parent company of -74.2168 million yuan in the same period of the previous year, it will turn from loss to profit. It is estimated that the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses in the first half of 2025 will be in the range of 95 million to 105 million yuan.
Iflytek: Expected net loss of 200 million - 280 million yuan in the first half of the year
36Kr learned that Iflytek announced that it expects a net loss of 200 million to 280 million yuan for the first half of the year attributable to shareholders of the listed company. The change in performance is mainly due to the increased investment in general artificial intelligence. R & D investment accounts for about 20% of the revenue. The Xinghuo large - model of Iflytek has been continuously upgraded, achieving rapid growth in fields such as AI hardware and educational products, and the industrial ecosystem is gradually taking shape.
Sanmei Co., Ltd.: Net profit in the first half of the year is expected to increase by 147%-172% year-on-year
36Kr learned that Sanmei Co., Ltd. announced that it expects the net profit attributable to shareholders of the listed company in the first half of 2025 to be between 948 million yuan and 1.042 billion yuan. Compared with the same period of the previous year, it will increase by 564 million yuan to 659 million yuan, a year-on-year increase of 146.97%-171.67%.
Seres: Net profit in the first half of the year is expected to increase by 66% - 97% year-on-year
36Kr learned that Seres announced that it expects the net profit attributable to shareholders of the listed company in the first half of 2025 to be between 2.7 billion yuan and 3.2 billion yuan, a year-on-year increase of 66.20% - 96.98%. The net profit after deducting non-recurring gains and losses is expected to be between 2.23 billion yuan and 2.73 billion yuan, a year-on-year increase of 55.13% - 89.92%.
Compiled | Qiuxia